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silky asked 1 year ago

in tax audit if assesse enters 2 transactions in 1 transction there is profit of 50 lacs & in 2nd transaction there is loss of 40 lacs. then turnover should be 90 lacs(ignoring signs) or 10 lacs.(NET effect)??

1 Answers
RaviRavi Staff answered 1 year ago

in case of speculative transactions, like not taking delivery of shares
then take profit & loss
ignore signs
add them
turnover in above example should be 90 lakhs

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